DIGITAL CURRENCY IN INTERNATIONAL TRADE

Currency crisis transmission through international trade

☆ The first draft of this paper was written when Jamal dent at University of California, Berkeley. The author wo mous referees for useful comments; Barry Eichengreen, Rose for helpful discussions; and the UC Berkeley Irma ing. Ammar Yasser Safa provided inspiration. The finding sions expressed in this paper are entirely those of the a represent the views of the International Bank for Reco World...

Trade , International Business Cycles , and the Optimum Currency Area

This paper studies the co-movement of intra-Asian business cycles. Based on the regional bilateral trade statistics and using three de-trending techniques to examine several macroeconomic fundamentals, the negative trade effects prevailing in the cases of economic activity such as real GDP and industrial production indicate that tighter intraAsian trade may most likely lead to more idiosyncrati...

Oil Currency and the Dollar Standard: A Simple Analytical Model of an International Trade Currency∗

It is widely accepted that the US dollar is the central reference currency for international trade pricing in final goods. At the same time, the dollar is the main invoicing currency for primary commodities. This paper links these two observations within a stylized theoretical framework, and shows how this may be used to obtain a quantitative estimate of the gain to the US economy from the use ...

International Currency Portfolios

The paper develops a theory that endogenizes the currency composition of international nominal bond portfolios in general equilibrium. It emphasizes the critical roles of government debt and of government policies, and thereby reconnects to the partial equilibrium portfolio balance literature of the 1980s. Consistent with recent empirical findings, optimal private sector foreign currency positi...

Emergence of Key Currency in International Trade by Production and Trader Agents